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Data Envelopment Analysis and Efficiency of Firms: A Goal Programming Approach

Document Type : Original Article

Authors

1 Department of Applied Mathematics, Ayandegan Institute of Higher Education, Tonekabon, Iran.

2 Department of Mathematics, University of Alabama at Birmingham, Birmingham, USA

3 Department of Management and International Business (MIB), University of Auckland, New Zealand

4 School of Management & Marketing, Taylor’s University, Malaysia.

Abstract

Purpose: Using the data envelopment analysis method to determine the most efficient companies on the Tehran Stock Exchange.
Methodology: In this study, three industries- banking, petrochemical, and pharmaceutical- were studied to determine efficient companies. Then, using the ideal planning method, the investment percentage of each company's share in the portfolio is calculated. This method adds the return and share risk as model variables and with another liquidity variable to them.
Findings: The results showed that after ranking the companies, their sensitivity can be analyzed by determining the weaknesses and recognizing the impact of variables to increase the efficiency of companies.
Originality/Value: Using the portfolio of efficient companies for investment leads to reducing investment risk and choosing the right portfolio.

Keywords

References
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Innovation Management and Operational Strategies
Volume 1, Issue 1
June 2020
Pages 1-16
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